elHood.com Accelerates Growth with Management Additions and New Los Angeles Office

August 18, 2006; 03:29 AM

Hoodiny Entertainment Group, the parent Company of elHood.com, a global online community designed for individuals that share a passion for Hispanic content, accelerates its growth plan as it expands its management team, naming Scott Brogi as Chief Operating Officer and Fabian E. Schonholz as Chief Technology Officer, as well as its geographic reach in the U.S., establishing a strategic point of presence on the west coast.

"I am very excited to see Hoodiny's evolution and our ability to execute on an ambitious plan. In just a few months, we have been able to launch a Beta version of elHood.com, our core project, while aggressively expanding our artist base and developing relationships with the leading music labels," said Demian Bellumio, CEO of Hoodiny Entertainment Group. "We have clearly positioned ourselves as a leader within the Hispanic entertainment space. With this expansion and the additions to our management team, we continue to accelerate our growth plans in key markets."

The new office, located in Los Angeles, is optimally situated to leverage the city's advertising, entertainment and technology resources. It will be headed by Scott Brogi, the company's newly appointed Chief Operating Officer, who will focus on leading the company's commercial efforts with advertisers and agencies, as well as expanding business development efforts with content providers, such as music labels, movie studios and TV producers - most of whom are based in Los Angeles. Brogi brings almost 20 years of experience leading winning business development, finance and sales teams within both large public organizations such as Chase Manhattan as well as most recently for several rapidly growing private, venture-backed companies in southern California.

Fabian E. Schonholz, Chief Technology Officer, will manage the company's IT department, which spans Europe and the Americas. He will be instrumental in the launching of version 1.0 of elHood.com, scheduled for September, in which the company will combine leading web 2.0 technologies such as Asynchronous JavaScript and XML (AJAX) and Flash to provide users with a powerful and interactive media experience, never before seen in Spanish language sites. Schonholz, with over 18 years of technology experience, previously led the technology department at Pictage and is a veteran of different technology projects at Disney Imagineering and Xylan Inc. (now part of Alcatel).

In July 2006, the company announced the closing of its second financing round led by Spanish Entrepreneur, Jose "Pepe" Barroso, a successful executive with ventures in fashion and Hispanic entertainment, who also serves as a member of the Company's Board of Directors.

About Hoodiny Entertainment Group LLC

Hoodiny was formed to create the leading "digital escapist" for the Hispanic entertainment market through its website http://www.elHood.com. With offices in Los Angeles, Miami and Madrid, the Company believes that the digital world allows everyone--artists, consumers and fans--to escape the limitations of the traditional media world and interact in ways never before possible.

Hoodiny is committed to developing technological platforms and content that incorporates the latest technologies, with the goal of delivering these in a ubiquitous, personal and interactive format. Hoodiny will deliver its services through the entire spectrum of media including computers, mobile devices, television and radio. At Hoodiny, we celebrate artistic inspiration and embrace technological innovation; it is this powerful combination that we believe will change the dynamics of the Hispanic media world.